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accounting News

UK Delays Overhaul To Tax Non-Compliance Penalties

by Jason Gorringe,, London

Thursday, January 20, 2022

HM Revenue and Customs is reforming late-filing and payment penalties to make them fairer and more consistent across taxes. The first stage of these reforms was set to come into effect early this year. However, on January 13, 2022, HMRC postponed the effective dates by nine months to one year. Read Full Story


Wyden Takes Aim At US Pass-Through Income Tax Break

by Mike Godfrey,, Washington

Friday, August 6, 2021

Senate Finance Committee Chair Ron Wyden (D-OR) has introduced legislation to overhaul the 20 percent deduction for pass-through income introduced into US tax law in 2017. Read Full Story


India Hikes Threshold For Country-by-Country Reporting

by Mary Swire,, Hong Kong

Thursday, April 15, 2021

India has enacted legislation to hike the turnover threshold for filing a country-by-country report. Read Full Story


Hong Kong Tables Tax Law Administration Bill

by Mary Swire,, Hong Kong

Thursday, March 25, 2021

Hong Kong tabled the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 in parliament on March 24. Read Full Story


Seychelles Hoping For EU Tax Blacklist Removal This Year

by Lorys Charalambous,, Cyprus

Monday, February 22, 2021

The Seychelles Ministry of Finance has said it is confident that it will be removed from the EU's list of non-cooperative jurisdictions when it is next reviewed. Read Full Story


Isle of Man Reminds Of Tax Payment Deadlines

by Jason Gorringe,, London

Wednesday, January 13, 2021

The Isle of Man has issued a reminder of the deadlines for 2019 corporate tax returns and for certain personal tax payments. Read Full Story


UAE Clarifies VAT Rules For E-Commerce

by Lorys Charalambous,, Cyprus

Monday, November 30, 2020

The United Arab Emirates' Federal Tax Authority has clarified the value-added tax rules that apply to e-commerce transactions. Read Full Story


Maltese Corporate Tax Return Filing Deadline Extended

by Lorys Charalambous,, Cyprus

Monday, November 30, 2020

Malta's Commissioner for Revenue has announced an extension to the corporate tax filing deadline for businesses whose tax year is the calendar year. Read Full Story


Israel To Adopt BEPS Action 13 TP Documentation Rules

by Ulrika Lomas,, Brussels

Monday, November 2, 2020

Israel's Government on October 12, 2020, launched a consultation on aligning the country's transfer pricing documentation rules with the three-tiered approach included in the OECD's 2017 Transfer Pricing Guidelines. Read Full Story


UK MPs Join Calls For Making Tax Digital Rethink

by Jason Gorringe,, London

Monday, November 2, 2020

The UK's Public Accounts Committee has recommended that the UK tax authority first review the potential administrative burden and cost on taxpayers before further expanding its Making Tax Digital initiative. Read Full Story



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